Details of $16 billion farm bailout package revealed

"The Trump administration revealed details of its $16 billion aid package for farmers hit in the U.S.-China trade war — with key provisions meant to avoid large corporations scooping up big payouts at the expense of small farmers," Laura Reiley reports for The Washington Post.

Here are the highlights:

• The payout for individual farmers has been raised to $250,000 per person or legal entity, up from $125,000 per category in the 2018 package. Also new this year: a $500,000 cap in total payments across three categories, which was created in response to claims of significant abuse in last year's aid package. The categories are: row crops; specialty crops like nuts or fruit; and dairy or pork.
• Eligible farmers will get between $15 and $150 per acre, regardless of crop. Counties will determine the exact amount of reimbursement. Payment rates are based on Department of Agriculture estimates of trade damage. 
• The aid will be paid out in three installments; half will be paid out in the first installment, in August.
• Most of the aid goes directly to farmers, but $1.4 billion is set aside to purchase food from farmers and distribute it to food banks.

"Agriculture Secretary Sonny Perdue conceded that the relief would not make up for farmers’ recent struggles with falling farm income and commodity prices, rising debt and floods that disrupted spring planting," Reiley reports. 

That assessment somewhat undermines President Trump's recent tweet saying that American farmers "are starting to do great again, after 15 years of a downward spiral. The 16 Billion Dollar China 'replacement' money didn't exactly hurt!" Reiley reports for a different story in the Post.

"While America’s farmers and ranchers are grateful for the administration’s agriculture assistance package, it only begins to relieve the great difficulty the agriculture industry is currently facing, ranging from extreme weather conditions to depressed markets," said Dale Moore, executive vice president of the American Farm Bureau Federation.